Homesearch.com Review: An Exclusive Real Estate Auction

Homesearch.com refers to an online based website which is auction based and provides an individual with the ability to search for and bid for bank owned retailed and residential properties across all 50 states. So if you are looking to purchase real estate you may consider Homesearch.com an option to find what you are looking for.

Homesearch.com Pricing and Refund Policy

When registering for an auction, the process is free when opening an account and in the placement of bids although a $2500 hold may be placed on your credit card. This hold will be released back to you only in the event that you will not have purchased the property at the end of the auction.

If it however happens that you successfully win the auction and agree to the purchase of that particular property,Homesearch.com will charge an auction fee otherwise known as a ‘Buyer’s Premium’ which is equal to 5% of the winning bid amount in addition to the hold of $2500.

Manufacturer information and claims about Homesearch.com

Based in Lewisville, TX, Homesearch.com holds a C rating with the BBB, basically known as Better Business Bureau, even though it is claimed that they only have had one closed complaint within the past three years. Their website’s URL which was originally registered in 1998 appears to have been operating in its current capacity since mid-2013.

How Homesearch.Com operates

With homesearch.com, once you have an already registered account, it claims that you just need a click to bid on that property. You will receive information notifying you if you are the highest bidder after the auction. Just like other similar auction sites, Homesearch.com gives sellers an opportunity to set a reserve price that must be met in order to be purchased. This means that even if you are the highest bidder it does not necessarily mean that you will have already won the right of purchase to the property.

Property found in Homesearch.com

Some of the types of property you may need to choose from at Homesearch.com include:

Auction

Bank owned

Short sales

Single Family Homes

Multi-family Homes

Condos

Townhomes

Land

Short Sale

Luxury Homes

Advantages of Homesearch.com

It is easy to use

This comes as a result of its easy online access to properties in all the 50 states plus real time updates and customizable search engines

Transparency

You have the ability to see the current bid amount and to receive notifications throughout the bidding process as it is handled through a high-visibility auction format

Deal selection

It is claimed to contain thousands of exclusive properties and even financing

Drawbacks of Homesearch.com

Your contract can be voided at any point for so many reasons. This results to inconveniencies.

The bidding process may be cumbersome as the purchasing process has got the ability to fail through until the very last moment.

There is no inspection of properties sold through this website so a customer may at the end of the day end up with malfunctioned property

The highest bidder may be obligated to pay the associated Buyer’s Premium incase he/she can’t suddenly obtain financing to renovate the property in case it is not in a proper condition

It appears to be closely associated with NationStar Mortgage LLC which has a very poor online customer reputation

The contracts may be one sided

Homesearch.com charges steep fees which may not be applicable to all customers

The amount of risk presented with the auction is very high

Homesearch.com is associated with conditions which have restrictions attached to it

According to some of the customer reviews and related searches, it shows that Homesearch.com appears to highly favor distressed properties e.g. short sale or foreclosed property which in most cases are never in good condition

Instructions for using Homesearch.com

To start operating Homesearch.com you will first need to choose the property you need. You can then enter a zip code, city, property address or property ID. If you find any properties that suit your criteria, you will be able to see a short overview of each including the relevant price, address auction start and end dates and any remaining time if any. Once you click the View Details button, you will be able to have a look at any additional pictures, occupancy status whether or not the reserve has been met and many more options.

Final Verdict

Most individuals will always search online for hot deals on rental properties, auction properties, and permanent residential and even condos. Homesearch.com gives you the opportunity to get that property you have always desired to get your hands on. The bidding property is fast and easy to conclude, as it is just a click away. On the other hand according to customer reviews, there are lots of negative complaints and comments lodged against Homesearch.com. It might be a recommended option for home searching but you may want to be careful about owning a home through Homesearch.com.

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